Sufficient land supply in the next 10 years for property market, say analysts

SINGAPORE: Analysts said property developers will soon have ample supply of prime land going forward, after the Urban Redevelopment Authority said it can build over 10,000 residential units near MRT stations, in the next 10 years and beyond. The URA announced this in its Concept Plan 2011 - an urban planning exercise done every 10 years. With their close proximity to public transport, analysts said that these land parcels will be in hot demand and will generate high bids. Potential home owners can expect high-rise living in established neighbourhoods in the years ahead. The URA said housing of more than 30 storeys will be built near public transport, like MRT stations, in matured estates. Analysts said these sites should be well sought by developers. "Some of these land parcels that are located near the mrt station could possibly achieve record prices when they are offered...